SEC. 83-41-117. Fiscal examination.

The commissioner may appoint any deputy or examiner or other person, who shall have the power of visitation and examination into the affairs of any such corporation and free access to all of the books, papers, and documents that relate to the business of the corporation, and may summon and qualify witnesses under oath to examine its officers, agents, employees, or other persons in relation to the affairs, transactions, and conditions of the corporation.

Following examinations, the commissioner may hold hearings and issue orders relative to the conduct of the affairs of the hospital service organizations. If, upon examination or investigation, it is found by the commissioner that such nonprofit hospital service corporation is insolvent or has exceeded its powers or has failed to comply with any provisions of the law or that its condition and policy is such as to render its further proceedings hazardous to the public or its subscribers, he may apply to the appropriate court to issue an injunction restraining it in whole or in part from further proceeding with its business. The court or judge in vacation, in his discretion, may issue the injunction forthwith or upon notice and hearing thereon and, after a full hearing of the matter, may dissolve or modify such injunction or make it permanent, may make all orders and decrees needful in the premises, and may appoint agents or receivers to take possession of the property and effects of the company and to settle its affairs subject to such rules and orders as the court may, from time to time, prescribe according to the course of proceedings in equity.

SOURCES: Codes, 1942, Sec. 5615-09; Laws, 1948, ch. 349, Sec. 9.

1997 Amendment

SECTION 2. Sections 83-41-101, 83-41-103, 83-41-105, 83-41-107, 83-41-109, 83-41-111, 83-41-113, 83-41-115, 83-41-117, 83-41-119, 83-41-121, 83-41-123, 83-41-125, 83-41-127, 83-41-129 and 83-41-131, Mississippi Code of 1972, which provide for the organization and regulation of nonprofit hospital, medical and surgical service corporations by the Commissioner of Insurance, are repealed.

SOURCE: 1997 Laws, Chapter 307, Sec 2, SB2066, Effective July 1, 1997.